Agenus secures $22M mortgage, reallocates funds to focus on colorectal cancer drug, boosting stock by 16.3%.

Biopharmaceutical company Agenus has secured a $22 million mortgage backed by its facilities in Berkeley and Vacaville, California, boosting its cash position. The company is also realigning its operations to focus on developing a colorectal cancer drug, aiming to reduce its cash burn to about $100 million in 2025. Agenus shares rose by 16.3% to $3.93 following the announcement.

November 27, 2024
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